tv Tour of Simon and Schuster CSPAN August 29, 2014 1:34am-2:48am EDT
they do well and clearly still continue to slow canfield like a bookstore. but the overall thing about independent bookstores is you are all different. the mix of product is different. what may work in joyce's store is not necessarily going to work on the west side of manhattan. it is hard to generalize about what works in one place will necessarily work somewhere else. more often than not but it means less likely to work somewhere else and that is the charm that they are all different. >> one of the things joyce said to me that i thought was interesting she said the
closer to the book that the object is the more likely it is to work in a bookstore. so now i will move to the other realm of merchandising and here i was curious about integrating the e-book what about people who have tried things are trying things and have made intergrading pretend mortar with e-and to what are some with this most exciting new ideas? we have seen things like cards and other things and king to the deaths of? >> it is the conversation we
just had because so much of the conversation is what space denis e-books leave and occupied? so when we look at that average data mostly canadian because that is where i am from public at 10% of store sales where 25 percent of digital, we now talk to retailers to make a deliberate decisions. i cannot stop every harlequin romance series may be i delivery do not want to do that deliberately but to start putting up sandage if you are interested it is a
hard sodomite engage someone with a new voice? >> what i want to hear about is the discovery and the balance. and i was wondering if you could share? >> we just came through a couple specifically related to kids with there is an uptake of children's reading for example, so to do a big campaign with we just are
introduced series an introductory offers through indigo to list them all kids' category that is 45% in one month and it was interesting for them but the immediacy and of moving through was effective. so we said trials like that that was interesting and we have limited success to bring things like digital and bundling together we're in the italian market of all places have the structures like the biggest publisher with the second-largest retailer you can do it with all of it together. they took the top 100 books and bundled together to see how people glading gauge.
and we found when somebody bought a book in print been digitally they read faster and also a shockingly valuable customer. >> and that is what amazon has discovered. >> if you are fighting for more repeople stein you can occupy more of their time with reading. >> exactly what we want to do a. >> i have some thoughts. [laughter] i think michael hit on something that we believe is
true but digital and print is not either/or but either a and and i happen to believe very strongly that doing everything inl of usn the digital world and reading fits their. so the idea how to make bundling work is critical and one in this is where my question comes in and we have not found the way to scratch the itch but we would love to test some things so come see us in the booth because i do believe what michael says is true to move to faster and i also think it will not be one plus one or one physical
book equals the price of two books those economics will not work but somewhere day have worked for everybody and validate for one player to boldly be the one that figures that out. >> it is very clear we're done with those bundling experience. is there anybody else who would like to talk about integrating e books? >> it is hardly a secret we have struggled to get our customers to buy a digital content from us we have a partnership with my friend sitting to my left we worked hard to make the reading experience but it has been s
struggle because it is hard to convince our customers to think of us as a place to buy digital content they think of all the extraordinary things that choice was talking about but they don't necessarily think of us as the place to sell digital content but you are 100 percent right to we need to be smarter as an industry to figure out whether bundling is an option or if it will in fact, work. at the heart of what we do is curate content the format should be less important to demonstrate our expertise and knowledge and passion passion, the obvious observation as of now we have not figured out how to
do that. >> i would certainly agree that these places where we start to cross that boundary around prince and digital to combing goal together is the opportunity with this great phenomenon we had on the digital side if i know you're interested in a book by a particular author i can drop the sample into your library that is adjacent in mass quantities but the fondling stuff right now is very simple. that when you walk through it i already own it. but could i give you a different related book to introduce you to a new author or opens a new category for the unexpected
that you may not have found yourself? could reduce that to create additional value for the bookseller? >> gant in categories where we don't necessarily have all the books base in the of world in the store so we maximize our opportunities. interesting thinking. now moving directly to innovation and. i have asked each panelist lining is in terms of the retail business whether driving costs out of the supply chain and retail analytics. i am not sure there is a more passionate industry which is the industry of books. i asked so what's turns you
on? what is cool toward new or exciting or marketing? so we will start with new approaches to retail to ask john and mike. >> so when i think of innovation i don't have to go very far from home. i would say without innovation talk about print on demand this dog eats the dog food i make that point but when i think about the
independent bookstores and what is possible a great untapped saying to me each one of you could be a publisher it is in a local market so my question is why aren't you publishing? and those that are to say i got that. but it just seems that is a great untapped opportunities to view lives in a place with local newspapers. their treasure troves of content that you could help carry because of your knowledge of what is happening with the local market. it just seems to me that is as huge opportunity out there to publish yourself or
to be a venue for those that walk in your store that they want to publish. obviously have tools to help with that i would have a publishing arm to that for sure. >> from our perspective we are just a distributor so what we've tried to do was to be indispensable. we look at online selling and the e-books that they would not put up with those inefficiencies so we needed to be smarter to partner with them. we put a lot of money into
distribution systems, replenishment, poin t-of-sale through business analytics to determine what should be in our stores and we are not as good as you. i cannot have 10,000 planetarium's but they can do some carrying. we invested a long time ago also the returns so again so to give the books back to use in another manner so there is no duplication for retailers so the one that has taken as the of far this is the use of data so there is a lot of arts in the
business so it in that schaede retail environment you recognize that buyer immediately they have a passion it is not just batteries and tore the paper they like box so views they analytics fight the battle within their own organization why we want them located so it self-serving helps us keep the space within the retailers but also act as a good steward of the product. >> we will move on to the second part what is the most innovative programs tries specifically? >> i think three years ago
may be in this room a be a challenge to our colleagues to figure out how do we work together to reinvent this business model that has not changed in 50 years we're doing things in 2010 the way of 1960 and it does not pass the giggle test if there is anything that we do the same today where he did 50 years ago. we told our friends how do we reinvent the business to make us more profitable? what is that creativity to figure out and remove those inefficiencies with the way
we work together? we are not there yet we have probably scratched the surface but as you know, there have been dozens and dozens of things publishers have done to help figure out how to reinvent the business like rapid replenishment to eliminate the complicated ridiculous compared in san requirements and not just as charity of bookstores. >> and the machinery. >> the could news is there is innovation out there. we have a long way to go but we have a long way to go but we have made some progress. >> what is exciting?
>> i would it underscore what he said it is a partnership we have seen in those programs, long and how that works in our stores. with occupancy cost and margins thinned as we look at how we care eight our selection teleplays a role the terms of sale from the publishers of a bite to see them explore a guaranteed virgins those programs that have been tried along the way have been very beneficial from our stores. and it takes more books to
sell more books so what oren teicher said to continue the dialogue to do something about its we have a long way to go. there is much more to keep us in business and healthy. >> can i just cannot resist saying we want to make books of all publishers equally available all the time. [applause] >> all books are available. [laughter] >> believe it or not to that is the time we had. think you for joining us. have a great show. thank you very much.
>> i always knew there was a risk of the bohemian lifestyle and a ticket because whether it is an evolution toward a lot abhor i don't think it is but it helped a concentration helped from being bored and keep me awake in to enhance the moment and if i was asked again it is probably yes the would have quit earlier than to get away with the whole thing easy for me to say.
it is irresponsible to say but the truth is that hypocritical that i would never touch the stuff if i didn't know because i did no. >> this soviet union in the system contained the seeds of its own destruction. many problems we saw at the end to begin at the beginning and i spoke about the attempt to control all institutions in all parts of the economy of social life. but when you do that to control everything then did you create opposition and the tisch -- potential dissidents. if you tell all artist to paint the same way a and one artist says know now you made him into a political dissident. >> if you want to subsidize housing and the populace agrees, then put on the
balance sheet and make it clear and evident to make everybody aware of how much it cost. but when you deliver through third-party enterprises like fini may and freddie mac through a public company with private shareholders and executives to extract a lot of that subsidy for themselves covet it is not a very good way of subsidizing a motorship. -- home ownership.
>> who was seidman and schuster? >> they were to gentleman who were friends and way back 1924 they decided to start a publishing house on their own and they have been working and publishing houses but thought they could start themselves so they set out one day to go to the base and put up a sign that says simon & schuster publishers. >> host: what they recognize what you do today? >> i think they would. it is interesting to realize how many things go in circles what is old becomes space again. the reason they would